Unlocking the value of human capital

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS Human capital—the strength of all the collective knowledge, attributes, skills, experience, and health of its workforce—is the most vital resource for any organization or economy. Individuals accumulate human capital throughout their working lives, and taking on new roles helps them become upwardly mobile. In fact, work experience can contribute to 40-60 percent of the average individual’s lifetime earnings. But making bold moves that stretch a worker’s potential is not possible unless employers take a chance on hiring them and provide opportunities. Don't miss a new report on how to unlock the power of your people. And to learn more about the research, be sure to register for a virtual event on June 15. — Sarah Skinner, digital editor, New York Human capital at work: The value of experience Human capital represents two-thirds of wealth for the average individual—and work experience contributes almost half of that value. Follow the knowledge Quote of the Day “We found that women are not doing [nonpromotable] work because they really enjoy it or care more about doing the work. . . . Rather, it’s because we all have the expectation that women will do this work. That collective expectation is held by managers and people who are asking them to do this work. ” —Lise Vesterlund, director of the Pittsburgh Experimental Economics Laboratory in a new Author Talks interview Chart of the Day See today’s chart Also New Innovation sourcing in biopharma: Four practices to maximize success Biopharma companies’ pipelines are full of assets they source externally to access innovation. Four practices will help ensure their investments flourish at a time of fierce competition. Understand pharmaceutical innovations   Addressing unequal opportunity in an American city Spatial inequality limits opportunities for millions of Americans. How can companies leverage their unique positions to promote sustainable, inclusive growth in the communities they call home? Build a better future   How banks can reimagine lending to small and medium-size enterprises If banks reimagine and modernize their business-lending processes, they can take advantage of new opportunities with SMEs and capture more of the forecast growth. Take a new approach   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007